Floating or falling? Tech companies that made stock market debuts in 2019
Uber
Uber’s shares fell on a humiliating first day of trading in May and have closed above the $45 price of the initial public offering (IPO) on only two days since. The ride-hailing firm reported a $5.2bn loss for the three months to the end of June. Its biggest quarterly loss was weighed down by IPO expenses, but investors worry it might never make money.
How the Amazon-Google-Uber effect sets inflation
Debates about inflation in advanced economies have changed remarkably over the past decades. Setting aside (mis)measurement issues, concerns about debilitatingly high inflation and the excessive power of bond markets are long gone, and the worry now is that excessively low inflation may hinder growth.
Uber valued at $82.4bn as it prices IPO at $45 per share
Uber is seeking a valuation of $82.4bn, less than the $100bn it was hoping for, but still making it one of the largest IPOs of all time, and one of the most hotly anticipated stock market listings in the tech world since Facebook made its Wall Street debut seven years ago.
Shopping, songs, TV, transport … new tech has many sectors in disarray
Netflix has helped change the way we watch television and film, further weakening our reliance on traditional TV schedules and providing a cheaper alternative to a cinema trip.
It invested massively in shows such as The Crown, Stranger Things and House of Cards to drive subscriber growth. It is now spending money on locking in talent, including Grey’s Anatomy creator Shonda Rhimes and Ryan Murphy, the producer behind American Horror Story, to try to ensure its supply of high-quality content.
Uber pushed for UK congestion charges that would hit poor hardest
Uber used a private meeting with the transport secretary to push for congestion charges that a senior civil servant warned would hit poorer drivers hardest, records have revealed.
Without a fair tax on tech, it could be the end of the state as we know it
Alongside the results of last week’s US midterms came the passing of San Francisco’s Proposition C, a measure that will tax firms with an annual turnover of more than $50m (£44m) to raise an estimated $300m extra a year to help address homelessness. Last Tuesday, 60% of voters backed it: though the proposal is now snarled up in a constitutional dispute, its approval marks a big moment for a city whose housing crisis has become a matter of urgency.
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Blackpool cabs company hailed as best in the country for going green – Blackpool GazetteNovember 21, 2019
Uber to allow audio recording of rides, aiming to launch feature in USNovember 20, 2019- Food delivery bike couriers in Australia being underpaid by up to $322 a weekNovember 19, 2019
- Sacking of Uber Eats driver, allegedly for a late food delivery, compared to modern slaveryNovember 18, 2019
